Craig Hallum Upgrades SoundThinking (NASDAQ:SSTI) to "Strong-Buy"

SoundThinking (NASDAQ:SSTI - Get Free Report) was upgraded by Craig Hallum from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 price target on shares of SoundThinking in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.20.

SoundThinking Stock Performance

NASDAQ SSTI traded down $0.89 on Monday, hitting $11.19. 160,110 shares of the stock traded hands, compared to its average volume of 61,096. The business's fifty day moving average is $11.82 and its two-hundred day moving average is $13.21. SoundThinking has a 12 month low of $9.33 and a 12 month high of $26.92. The firm has a market capitalization of $143.04 million, a price-to-earnings ratio of -96.00 and a beta of 1.17.

Insiders Place Their Bets

In related news, CEO Ralph A. Clark sold 6,479 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the sale, the chief executive officer now directly owns 529,894 shares in the company, valued at approximately $7,227,754.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total value of $80,286.76. Following the sale, the chief executive officer now owns 536,373 shares in the company, valued at approximately $7,702,316.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Clark sold 6,479 shares of SoundThinking stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total value of $88,373.56. Following the sale, the chief executive officer now directly owns 529,894 shares of the company's stock, valued at $7,227,754.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,327 shares of company stock worth $199,955 over the last 90 days. Corporate insiders own 9.20% of the company's stock.

Institutional Trading of SoundThinking

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in SoundThinking by 6.9% in the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company's stock worth $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of SoundThinking in the 1st quarter worth about $923,000. Bares Capital Management Inc. boosted its holdings in shares of SoundThinking by 4.9% in the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company's stock worth $12,313,000 after purchasing an additional 36,187 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company's stock valued at $482,000 after purchasing an additional 3,268 shares during the last quarter. Finally, Pullen Investment Management LLC purchased a new position in shares of SoundThinking during the 2nd quarter valued at about $632,000. Institutional investors own 60.74% of the company's stock.

About SoundThinking

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes.